Marc Faber

Editor and Publisher of The Gloom, Boom and Doom Report

January 31, 2015

Barron’s 2015 Roundtable Highlight

Even if Asia doesn’t grow much this year, economic power is shifting to Asia. The Indian economy could grow by 5%-6% in 2015, although the Indians would say I am too pessimistic. Nonetheless, a 5% growth rate is enormous, compared to zero in Europe.

Unlike the optimists, I believe Japan will contract, as well. The population contracted last year by more than 200,000, the largest contraction since 1947. The population won’t increase unless Japan welcomes foreigners, but Japanese culture is unlikely to do that.